EQUITY PLAN’
WE COULD GO
ON A CRUISE.

DOOR
SEDAN...

more information about .
Canadian Pension Pian.

“theft,” buying vs. renting,
‘reverse mortgages, and gifts
to grandchildren. :

. ““My daughter said « »
‘she doesn’t mind con-
ctributing to the.

Canada Pension Plan:
ut if the pot.is empty .
when she retires,
would she get back :
‘the. money she put in
plus interest? « If not,
wouldn't that be steal-":

Excluding outright oe
raud, when a country.”
(or. individual or company) goes -
bankrupt it’s usually called bad
management or bad luck — even
‘though the’contributors or credi-
‘tors might feel ‘robbed. The tes
n?. Make. your. own plans and ©
investments to give you fi nancial
exibility and ‘security i in the
uture, in case government Pro-,

John F. Vande Pol JP. SWiAt Ar

zm What is the key to success?.

As it: knowledge?, Not really,. knowl. ‘

“edge by itself is a very low cost com-
modity! Knowledge, without action, is

., useless.”

2 tsitin Possessions, monay? Not real-
dy, ‘anybody can accumulate wealth
should they desire such! True riches
‘are ‘in our ‘selt-image, notin sell-

‘appearance, :

Jods it having, friends, ‘Buddies? Not
2*teally, because, failure and misery

“both love company!

SUCCESS is‘:
2 Having a Sense of direction.
having a an :
‘ Understanding of people.
“.Courageousty doing what is
7 needed, being /
at Charitable towards: your
“self, those around you. Developing
Paes Esteem for others through
Self acceptance and.”
: : Self contidence.
s Watch in Fri, Feb. 17 issue for infor.
. mation. that can help you succeed. .
P.M.A. INTERNATIONAL CO.

984-8234 -

Pra Mee et)

SS ee

gers pees
t= os ise a Ct
<— we Renta

ou MY— 7
OUR, HOME IS,
DIMINISHING 2/

vides little or no help.

“My husband says we are bet-
ter off to rent, and then invest our
money. 1 always thought a home
was a good investment, but when 1
think of the costs and all the mort-
gage interest, I'm not so sure any
more: Who's right?” ~J.W.

A carefully chosen home (like
an under-priced, well-located, .
solid but perhaps rundown place
you can fix up, ideally with a
rental suite) can be an excellent
investment over the tong term: But
if you are astute investors and
either have secure living quarters ~
for reasonable rent or tend to
move frequently, then your. hus-
band could be right — especially
in the short term. Put a-value on

- your lifestyle. If owning a home

would give you a better quality of

life, that might be worth more than
profiting from a rent-and-invest -

66 Make your own plans and invest-
“ments to give you financial flexibility
“and security in the future, in case gov-
ernment nt provides little or no help. 9?

‘approach.
“Ts a reverse mortgage a good

: : “idea?” -~ H.C.

More and more companies _
allow you to draw an income,

‘: often tax-free, based on the value

of your home: Often, a mortgage «
is placed on your property to pro-.
vide a lump sum and/or an annu-

‘

CAN BE GREAT
FOR SOME—
BUT ITIS A
TRADE OFF!

ity. The trade-off? More money

-now and less home value later —

after you die, the property is sold
or the debt is otherwise repaid.
The older you are, the better this
works. Alihough it’s an ideal
approach for some, look at all
other options first.

“Until he was three, my grand-
son had some savings but his par-
ents had to use the money because
of a layoff at work. Can I give him
money — he's now seven — and
put it in an investment so nobody
else can draw it out?” - M.M.

You may open an account or
buy an investment in your name in
trust for your grandson, or possi-
bly in joint names. Ask your finan-

-cial institution what options it

offers. Revenue Canada says you
are supposed to declare the inter-
est and dividends (although not
capital gains) that such gifts carn -
until the year your
grandson turns 18.

“I have 85% of my
registered retirement
income fund money’ —

- with two life insurance
companies and 15% .
with a bank, Is that .
OK?” -W.D.. -

If the amounts are
large, you might like
to spread your money
around a little more.

Stay within the deposit -
_ insurance limits at.the most sound. Bn

financial institutions. .

Mike Grenby is a columnist and
independent financial adviser who
works with individuals; he will

answer your questions in this col-
‘umn as space allows — write to

’ him c/o 2444 Haywood Avenue,
‘West Vancouver V7V LYI. :

DOMINION.
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- JOHN: HUMPHREYS _

ON. BEING NAMED ONE.OF FIVE FINALISTS IN THe”
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